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Article
Publication date: 7 September 2021

Nadeera Ranabahu and Farzana Aman Tanima

The purpose of this study is to explore how vulnerabilities arising from physical impairments, age, widowhood, forced displacement due to war or natural disasters and…

Abstract

Purpose

The purpose of this study is to explore how vulnerabilities arising from physical impairments, age, widowhood, forced displacement due to war or natural disasters and sexual orientation affect women’s microfinance-related entrepreneurial activities and economic empowerment.

Design/methodology/approach

This paper is a structured literature review and uses preferred reporting items for systematic reviews and meta-analyses (PRISMA) method. The paper also uses agency, resources and achievement dimensions of empowerment to assess the findings.

Findings

This study reveals that although microfinance services promote women entrepreneurship, they also exacerbate exclusion and further discrimination. Individual-, household-, institutional- and community-level structures shape women’s agencies to access and use loans and conduct entrepreneurial activities; hence, ultimately economic empowerment.

Originality/value

The originality of this paper arises from the conceptual model we synthesised from our review which illustrates how vulnerable women’s agency is shaped by resources and how it affects their achievements in relation to entrepreneurial activities.

Details

International Journal of Gender and Entrepreneurship, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1756-6266

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Article
Publication date: 8 July 2021

Prashant Kumar Gupta and Seema Sharma

The authors present a systematic literature review on microfinance institutions’ (MFIs) effect on poverty and how they can ensure their sustainability. The purpose of this…

Abstract

Purpose

The authors present a systematic literature review on microfinance institutions’ (MFIs) effect on poverty and how they can ensure their sustainability. The purpose of this article is to review the effect of MFIs on poverty in South Asian countries. The analysis and review of the selected corpus of literature also provide avenues for future research.

Design/methodology/approach

A total of 95 papers from 49 journals in 4 academic libraries and publishers were systematically studied and classified. The authors define the keywords and the inclusion/exclusion criteria for the identification of papers. The review includes an analysis of the selected papers that give insights about publications with respect to themes, number of themes covered in individual publications, nations, scope, methodology, number of methods used and publication trend.

Findings

The literature indicates the positive effect of microfinance on poverty but with a varying degree on various categories of poor. The relation between poverty and microfinance is, however, dependent on the nation under the scanner. While sustainability and outreach co-exist, their trade-off is still a matter of debate.

Originality/value

This is the first systematic literature review on MFIs’ effect on poverty in South Asian nations. Additionally, the authors discuss the literature on the trade-off between sustainability and outreach for MFIs.

Details

International Journal of Emerging Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-8809

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Article
Publication date: 28 June 2021

Abdurrahman Abdullahi, Anwar Hasan Abdullah Othman and Salina Kassim

This paper aims to examine the determinants of intention to adopt Islamic microfinance among prospective customers in Nigeria, to enhance access to formal financial services.

Abstract

Purpose

This paper aims to examine the determinants of intention to adopt Islamic microfinance among prospective customers in Nigeria, to enhance access to formal financial services.

Design/methodology/approach

The quantitative study used the proportionate stratified random sampling technique to collect data from 450 respondents, using close-ended questionnaires. The data was analyzed using analysis of moment structures-structural equation modeling. The decomposed theory of planned behavior (DTPB) was used as the underlying theory to test 10 hypotheses.

Findings

Results showed the intention toward the adoption of Islamic microfinance is high in Nigeria. In total, 8 of the 10 study hypotheses were supported, out of which attitude, subjective norm and perceived behavioral control were found to have a positive and significant influence on the behavioral intention to adopt Islamic microfinance. Consequently, the study recommends the need for stakeholders in the Nigerian financial system to embark on enlightenment campaigns that will improve the public attitude on the role of Islamic microfinance banks in the promotion of financial inclusion and poverty reduction.

Research limitations/implications

The study focused specifically on three selected states in Northern Nigeria that are predominantly Muslim. The findings and indeed the conclusions of the study, may not be suitable for generalization to other parts of the country.

Practical implications

The study found that three constructs: attitude, subjective norms and perceived behavioral control were found to affect behavioral intention. Thus, the Central Bank of Nigeria and Islamic financial institutions should tailor their enlightenment campaigns toward improving public attitude on the need to adopt Islamic microfinance banks to further enhance financial inclusion, and thus reduce the incidence of poverty. Islamic microfinance banks should complement their commercial products and services with Islamic social finance products such as Sadaqat, Zakat and benevolent loan, as is the practice in jurisdictions where Islamic finance is institutionalized.

Social implications

The social implication of the study is its ability to determine factors that will enhance financial inclusion in Nigeria. This will assist in reducing poverty and income inequality.

Originality/value

The study was also able to extend the DTPB by introducing awareness as an additional latent construct in explaining attitude.

Details

International Journal of Ethics and Systems, vol. 37 no. 3
Type: Research Article
ISSN: 2514-9369

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Article
Publication date: 19 May 2021

Vatimetou Mokhtar Maouloud, Salina Kassim and Anwar Hasan Abdullah Othman

This study aims to identify the involuntary barriers of financial inclusion which are affecting the usage of Islamic microfinance services in PROCAPEC institution located…

Abstract

Purpose

This study aims to identify the involuntary barriers of financial inclusion which are affecting the usage of Islamic microfinance services in PROCAPEC institution located in Nouakchott-Mauritania. Subsequently, it also examines the effect of gender as a moderator in the model.

Design/methodology/approach

Primary data was collected through a cross-sectional questionnaire from 381 beneficiaries of PROCAPEC – a major Islamic microfinance provider in Mauritania. In methodology, the study uses confirmatory factor analysis to identify relevant involuntary factors affecting usage, followed by structural equation modelling to test the impact of these factors on the usage of Islamic microfinance (IsMF) products.

Findings

Two of the four factors are statistically significant in affecting the usage of IsMF products, namely, affordability and eligibility. Gender is a moderator in the relationship between affordability and usage, as well as eligibility and usage.

Practical implications

Policymakers, practitioners and managers of Islamic microfinance institutions can consider these factors and focus on strategies, including pricing and promotion, which aim to further develop the Islamic microfinance industry in Mauritania. Also, reducing documentation required from clients and adopting lenient rules to provide suitable products will enhance the use of IsMF products, which may lead to more customers’ attraction.

Originality/value

Although several researchers have articulated financial inclusion, this study sheds light on a specific dimension of financial inclusion to determine the factors impacting IsMF products’ usage. In Mauritania, there are few studies about microfinance. This study will be amongst the pioneer contribution to the geographical gap.

Details

International Journal of Ethics and Systems, vol. 37 no. 3
Type: Research Article
ISSN: 2514-9369

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Book part
Publication date: 1 January 2009

Ira W. Lieberman, Anne Anderson, Zach Grafe, Bruce Campbell and Daniel Kopf

Within the past few years, a new phenomenon has taken place among the world's leading microfinance institutions (MFIs) – entry into new capital markets through initial…

Abstract

Within the past few years, a new phenomenon has taken place among the world's leading microfinance institutions (MFIs) – entry into new capital markets through initial public offerings (IPOs). “Going public” launches MFIs into a new frontier, not only presenting challenges but also providing new opportunities for the institutions and the clients they serve.

Details

Moving Beyond Storytelling: Emerging Research in Microfinance
Type: Book
ISBN: 978-1-84950-682-3

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Book part
Publication date: 8 October 2019

Victor Yawo Atiase and Dennis Yao Dzansi

Microfinance which refers to the issuance of microloans and the delivery of other related financial services to mostly necessity entrepreneurs has remained a major…

Abstract

Microfinance which refers to the issuance of microloans and the delivery of other related financial services to mostly necessity entrepreneurs has remained a major developmental tool across the developing world. With its inception from Bangladesh’s village of Jobra in 1976, microfinance has provided financial capital to many poor households to engage in income-generating activities in order to increase their assets and reduce vulnerability. Most often than not, necessity entrepreneurs who endeavor to start their own businesses depend on microfinance as a source of financial resource into their Micro and Small Enterprises (MSEs). Using Ghana as the study country, this study investigated the impact of microfinance on the necessity entrepreneurs in the areas of poverty reduction, employment generation as well as the various difficulties associated with Microfinance delivery in the Greater Accra region of Ghana. We conducted a paper-based survey with 378 MSE owners from this region. The results indicate that microfinance has contributed to employment generation and poverty reduction in the Greater Accra region of Ghana through the provision of microloans to necessity entrepreneurs to engage in various types of income-generating activities. However, necessity entrepreneurs are faced with loan inadequacy issues coupled with under-financing difficulties. More so, they are also faced with non-flexible loan terms and cumbersome loan application procedures which do not support business expansion and employment generation. This study contributes to the debate on the social logic concept of microfinance delivery and poverty reduction. Microfinance therefore remains an indispensable tool in supporting necessity entrepreneurs in promoting self-employment.

Details

Societal Entrepreneurship and Competitiveness
Type: Book
ISBN: 978-1-83867-471-7

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Book part
Publication date: 1 January 2009

Bruce E. Moon

Woller, Dunford, and Woodworth (1999) and Morduch (2000) were among the first to discuss the existence of a “schism” in the study of microfinance. Although the exact…

Abstract

Woller, Dunford, and Woodworth (1999) and Morduch (2000) were among the first to discuss the existence of a “schism” in the study of microfinance. Although the exact dimensions of this divide are stated differently by various authors, the existence of alternative schools of thought is widely accepted (Brett, 2006; Bhatt & Tang, 2001; Mitlin, 2002; Robinson, 2001; Rhyne, 1998).

Details

Moving Beyond Storytelling: Emerging Research in Microfinance
Type: Book
ISBN: 978-1-84950-682-3

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Book part
Publication date: 31 December 2013

Ludovic Urgeghe

Purpose – These last three years, the global reputation of microfinance has been damaged by some major crises, notably in India. The Microfinance Investment Vehicles…

Abstract

Purpose – These last three years, the global reputation of microfinance has been damaged by some major crises, notably in India. The Microfinance Investment Vehicles (MIVs), funded by public money and socially inclined investors, are believed by observers to be part of the causes of the crises (von Stauffenberg & Rozas, 2011). As a consequence, they now have to demonstrate their commitment to the social mission of microfinance. This chapter aims at putting forward the debate on MIVs’ ability to effectively contribute to the social mission of microfinance by analyzing how they integrate social performance in their investment decisions.

Methodology/approach – Analysis of interviews with microfinance fund managers based on a framework of recognized impediments to a socially responsible approach in investing.

Findings – While social performance is recognized by respondents to be an important topic for the industry, fund managers still do not give a strong role to social criteria in investment decisions. The findings of the qualitative analysis in the chapter demonstrate that this is linked to a number of major impediments such as the tendency to believe that microfinance is social per se, the lack of standardization in social performance tools, and also a loose regulation regarding social reporting.

Research limitations/implications – The findings of the study are limited due to the relatively small sample size and the focus on fund managers’ answers only. Future research could investigate the viewpoints of different stakeholders in the investment process, such as the back investors of microfinance funds or the regulatory institutions.

Originality/value – To the best of our knowledge, this is the first attempt to get insights on the impediments to a stronger focus on social performance by MIVs, with the application of a recognized framework from the Socially Responsible Investment (SRI) literature.

Details

Institutional Investors’ Power to Change Corporate Behavior: International Perspectives
Type: Book
ISBN: 978-1-78190-771-9

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Book part
Publication date: 16 December 2016

Asmae Diani and Julienne Brabet

The disagreement over the contribution of microfinance to fight poverty is mainly related to the wide range of methodologies used to study it. The aim of this chapter is…

Abstract

Purpose

The disagreement over the contribution of microfinance to fight poverty is mainly related to the wide range of methodologies used to study it. The aim of this chapter is to reveal the limitations of these methodologies and explore whether the capability approach may improve impact assessment, especially in the microfinance field.

Methodology/approach

The author’s contribution is based on a comprehensive literature review of the most cited scholarly studies on microfinance impact.

Findings

This contribution has two main findings: It identifies the characteristics of an impact assessment conceptual framework based on the Capability Approach. It also gives a documented justification on why this approach is an interesting way to evaluate the potential effects of microfinance programs.

Originality/value

Applying the capability approach to poverty in microfinance is not new. However, as far as we know this is the first contribution that tries to apply it to the specific issue of impact assessment.

Details

Finance and Economy for Society: Integrating Sustainability
Type: Book
ISBN: 978-1-78635-509-6

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Article
Publication date: 5 April 2021

Chi Aloysius Ngong, Kesuh Jude Thaddeus and Josaphat Uchechukwu Joe Onwumere

This research examines the long-run relationship between microfinancial inclusion and poverty alleviation in Nigeria from 1990 to 2018.

Abstract

Purpose

This research examines the long-run relationship between microfinancial inclusion and poverty alleviation in Nigeria from 1990 to 2018.

Design/methodology/approach

the Engle–Granger two-step co-integration and autoregressive distributed lag (ARDL) techniques. Gross domestic product (GDP) per capita proxies poverty reduction. Number of microfinance banks, borrowers of microfinance institutions, commercial bank branches, commercial bank loan to small-scale businesses and broad money supply ratio measure microfinancial inclusion.

Findings

The results indicate a long-run relationship between microfinancial inclusion and poverty reduction. The error correction model reveals that microfinancial inclusion and poverty alleviation converge to long-run equilibrium. The number of microfinance banks, lagged value of borrowed funds and broad money supply negatively influences poverty while the lagged values of number of microfinance banks and broad money supply positively influence poverty.

Research limitations/implications

Effective ways to improve microcredit channels and liquidity flow to the poor through a microfinance bank's intermediation should be promoted by the Central Bank of Nigeria (CBN) using an aggressive policy, which provides access to credit to the poor.

Practical implications

Theoretically, microfinance institutions should increase credit to the poor, especially in rural areas at moderate cost. This study further suggests that many microfinance bank branches should be located in urban and rural areas targeting the poor.

Social implications

Microfinancial inclusion reduces population's poverty in Nigeria and globally.

Originality/value

Contrary to other studies, this paper utilizes number of microfinance institutions and borrowers of microfinance institutions to examine the relationship between microfinancial inclusion and poverty alleviation in Nigeria.

Details

Journal of Economic and Administrative Sciences, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1026-4116

Keywords

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